2019年8月18日星期日
 
專家論市
Martin Hennecke

Chinese economy defies slowdown
 
18/04/2019
 
<p>China&#39;s economy grew at a steady 6.4 percent pace in the first quarter from a year earlier while China&#39;s real estate investment rose 11.8 percent, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.</p><p>GDP grew 1.4 percent, as expected, but dipped from 1.5 percent in October-December.</p><p>Growth sharply jumped in industrial production, which surged 8.5 percent last month, the fastest in over 4 years.</p><p>Real estate investment rose 11.8 percent in the first three quarter from the same period last year, quickening slightly from a 11.6 percent gain in the January-February period. The pace marked the fastest quarterly growth since 2014.</p><p>Retail sales rose 8.7 percent in March, beating estimates of 8.4 percent and the previous 8.2.</p><p>Meanwhile, China&#39;s central bank yesterday lent 200 billion yuan (HK$234 billion) to financial institutions via its one-year medium-term lending facility, with the interest rate unchanged.</p><p>Chinese onshore yuan strengthened 215 basis points to about 6.68587 against the US dollar, hitting a seven-month high.</p><p>Elsewhere, pork manufacturers stocks surged with WH Group (0288), the world&#39;s largest pork company, rising 5.11 percent to HK$9.25 with a market turnover of HK$848.19 million, hitting over a one-year high yesterday.</p><p>This comes after an agriculture ministry official said pork prices are expected to jump more than 70 percent in the second half, and Beijing would likely lift a ban on US poultry as part of a trade deal and may buy more pork to meet a growing supply deficit.</p><p>That comes as China Unicom (0762) released the first batch of 5G terminals, including 15 5G smartphones from 12 brands and 5G customer premise equipment, it said in a Weibo posting yesterday.</p><p>The 12 smartphone suppliers consist of Huawei, Xiaomi (1810), ZTE (0763), OPPO, Vivo and Nubia.</p><p>Mainland wireless infrastructure giant China Tower (0788) posted its net profit rose 2.38 times year on year to 1.28 billion yuan (HK$1.5 billion) for the first quarter.</p><p>Operating revenue grew 9.6 percent to 18.9 billion yuan.</p>

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